Alabama county panel extends sewer-debt standstill
BIRMINGHAM, Ala. Oct 9 (Reuters) - Local legislators in Alabama's Jefferson County voted 3-2 on Thursday to extend until Oct. 31 a standstill agreement allowing talks to continue on restructuring $3.2 billion of shaky sewer debt.
The extension of forbearance agreements with Wall Street creditors comes after creditors conditionally agreed to reduce the debt by $1 billion and amid strong disagreements among local legislators over whether Jefferson County should file what could be the biggest ever U.S. municipal bankruptcy petition. (Reporting by Melinda Dickinson; Writing by Michael Connor in Miami; Editing by Theodore d'Afflisio)
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